Midland States Bancorp, Inc. (MSBI) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Midland States Bancorp, Inc. is a financial and bank holding company. It provides commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. The company also offers commercial equipment leasing services which provided through Heartland Business Credit and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland States Bancorp, Inc. is headquartered in Effingham, Illinois. “
Separately, Keefe, Bruyette & Woods reiterated a buy rating and issued a $37.00 price objective on shares of Midland States Bancorp in a research report on Tuesday, August 29th.
Shares of Midland States Bancorp (MSBI) opened at 33.07 on Tuesday. The company’s 50-day moving average price is $31.67 and its 200 day moving average price is $31.67. The company has a market cap of $631.47 million, a P/E ratio of 17.21 and a beta of 2.37. Midland States Bancorp has a 52 week low of $24.70 and a 52 week high of $37.58.
Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Midland States Bancorp had a net margin of 15.60% and a return on equity of 10.65%. The firm had revenue of $43.02 million for the quarter, compared to analyst estimates of $45.60 million. Equities research analysts anticipate that Midland States Bancorp will post $1.90 earnings per share for the current fiscal year.
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In other Midland States Bancorp news, Director John M. Schultz sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $31.76, for a total value of $63,520.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 1,455 shares of company stock valued at $44,107 and sold 6,000 shares valued at $188,400. Company insiders own 14.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Globeflex Capital L P acquired a new position in Midland States Bancorp in the 1st quarter valued at about $107,000. Legal & General Group Plc boosted its holdings in Midland States Bancorp by 581.8% in the 2nd quarter. Legal & General Group Plc now owns 3,941 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 3,363 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Midland States Bancorp in the 2nd quarter valued at approximately $209,000. Blair William & Co. IL boosted its holdings in Midland States Bancorp by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 6,629 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 60 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in Midland States Bancorp in the 2nd quarter valued at approximately $225,000. Institutional investors and hedge funds own 46.55% of the company’s stock.
About Midland States Bancorp
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